MUNICH--(BUSINESS WIRE)--May 21, 2026--
L&T Technology Services (BSE: 540115, NSE: LTTS), a global leader in AI, Digital & ER&D Consulting Services, today announced the inauguration of its first Engineering Intelligence Center of Excellence (EI CoE) in Europe, located in Munich, Germany. The Munich EI CoE marks a strategic milestone in LTTS’ Engineering Intelligence (EI) approach - leveraging deep-tech and embedding AI across the engineering lifecycle to enable intelligent products, autonomous operations and next-generation manufacturing systems.
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By combining deep domain engineering expertise with forward looking technologies including GenAI, Agentic AI, multimodal AI, Physical AI and edge intelligence, LTTS aims to help global enterprises move from AI experimentation to scalable, real-world industrial transformation. Reinforcing this leadership, LTTS is also leading the charter in AI patent filings, with over 237 patents filed in AI & GenAI alone in FY26.
Positioned at the heart of one of Europe’s most advanced industrial and technology ecosystems, the Munich EI CoE will serve as a collaborative innovation hub for clients across mobility, industrial products, sustainability and technology sectors. The center will focus on accelerating applied AI solutions, intelligent manufacturing, software-defined products, predictive operations and connected engineering ecosystems tailored to Europe’s evolving industrial priorities.
LTTS has steadily expanded its presence in Europe, where it now serves over 60 clients across the continent and has a team of more than 4,500 engineers supporting the region. The launch of the EI CoE will enable a steady pivot for its clients through faster outcome-driven innovation, while strengthening local collaboration and deepening engagement with clients, partners and academia.
The inauguration ceremony brought together industry leaders, clients, partners and members of the innovation ecosystem. The event was attended by dignitaries and guests from industry, government, academia, and the Indo-German business community.
On the inauguration, Amit Chadha, Chief Executive Officer & Managing Director, L&T Technology Services, said, “LTTS’ first EI Center of Excellence in our Munich design center is a milestone as it brings our deep-tech and EI-based solutions closer to the clients’ R&D hubs across the region. The center will act as a focal point for innovation, R&D and new product development, redefining how products, platforms and manufacturing are engineered and optimized in the AI era.”
About L&T Technology Services Ltd
L&T Technology Services (LTTS) is a global leader in AI, Digital & ER&D Consulting Services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and sustenance services across products and processes.
Purposeful. Agile. Innovation. is how we drive growth across the Mobility, Sustainability and Tech segments. Our client base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. Headquartered in India, we have over 23,800 employees across 22 global design centers, 31 global sales offices, and 98 innovation labs, as of March 31, 2026.
For additional information about L&T Technology Services log on to www.LTTS.com.
The Engineering Intelligence CoE inauguration was attended by dignitaries and guests from industry, government, academia and the Indo-German business community
NEW YORK--(BUSINESS WIRE)--May 21, 2026--
Rapaport, the trusted pricing and market data authority for the natural diamond market, today announced a comprehensive company rebrand designed to unify its pricing, trading, market intelligence, auctions, and news platforms under a single master brand.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520379139/en/
As the cornerstone of this transition, RapNet, the industry's largest online diamond trading network, has officially become Rapaport Trade.
The transition marks Rapaport's evolution from a suite of individual business units into a connected ecosystem built around how diamond professionals actually work. For the first time, professionals will engage with a unified ecosystem where benchmark pricing from the Rapaport Price List, market intelligence, and access to more than 1.8 million natural diamonds across a global trading network work together. The result is a more connected workflow that helps buyers and sellers make faster, more confident decisions.
For existing RapNet members, the transition to Rapaport Trade is completely seamless. All user accounts, network connections, direct chats, and active inventory listings remain fully intact and operational with no required action from users.
"The market is changing, and professionals in this industry need tools that reflect that," said Dan Mano, CEO of Rapaport. "Bringing pricing, trading, news and market intelligence together under one platform helps professionals work faster and make better decisions. Rapaport Trade is the practical result of that."
"Diamond professionals need to move fast, and they cannot do that if they are forced to bounce between disconnected tools to check pricing data, vet suppliers, and source stones," said Benzi Kluwgant, CMO at Rapaport. "RapNet is now Rapaport Trade because we are harnessing the resources and data of Rapaport, integrating our core technologies into a more powerful sourcing workflow. We are giving the industry a practical sourcing engine where pricing intelligence is connected to the ability to buy and sell natural diamonds directly, with no middlemen."
The rebrand reflects a broader, more technology-based and data-driven approach at Rapaport — building tools that respond to how professionals actually operate in today's market and positioning the company to serve the industry with greater speed and precision going forward.
The newly unified Rapaport ecosystem and the transition to Rapaport Trade will be showcased at the JCK Las Vegas show. CEO Dan Mano will discuss the company's strategic direction during the annual Rapaport Breakfast presentation on Sunday, May 31, followed by Martin Rapaport’s annual industry address.
Rapaport Trade will continue rolling out practical, data-driven tools designed to help professionals manage inventory and sourcing decisions more efficiently. These include Rapaport Polaris, a supply-and-demand pricing dashboard that gives manufacturers and suppliers visibility into cutting and sourcing decisions, and Rapaport SellerIQ, a buyer engagement analytics platform that shows sellers how buyers are engaging with specific inventory across the network.
Rapaport Trade remains exclusively dedicated to natural diamonds. Rapaport's mission — to safeguard the prosperity of the natural diamond economy — is the foundation of everything the company builds. That means an unwavering commitment to natural diamonds only, ethical sourcing, and transparency across the global supply chain. The transition to Rapaport Trade is a direct expression of that mission.
For more information, visit rapaport.com.
About Rapaport
Rapaport Group includes Rapaport News, delivering industry-leading content across digital platforms, including news coverage, interviews, editorial features, original storytelling and branded content initiatives; Rapaport Analysis, providing in-depth research on the global diamond and colored-gemstone markets, including demand and pricing trends and the benchmark Price List for diamonds; Rapaport Trade (formerly RapNet), the world’s largest online diamond- and gemstone-trading marketplace, with over $8 billion in daily diamond, gem and jewelry listings; and Rapaport Auctions, the world’s largest recycler of diamonds. Additional information is available at www.rapaport.com.
Rapaport Announces Group-Wide Rebrand to Lead the Diamond Industry's Evolution in a Changing Market, with RapNet Transitioning to Rapaport Trade
